PROFIT (+50%) AND RECORD LIQUIDITY FOR THE OTHER MERLONI
BUT FOR ARISTON THERMO THE BORA CAN WAIT
About fifty million in cash, without taking into account the 45 million profit (+50%) at the end of 2011 on an adjusted EBITDA up 11,3% to 118 million.
These numbers are enough to give an idea of the excellent state of health of Ariston Thermo, led by Paolo Merloni, among other things RCS adviser, which has taken over the management from the hands of Francesco, an entrepreneur (and former minister) to whom we owe the birth of this no longer pocket-sized multinational, one of the world leaders in three sectors: sanitary water, heating and air conditioning, environment and components. “In the last ten years – explains Paolo Merloni – the turnover of the group has more than tripled, thanks to some important acquisitions and internal growth”. Today the company can count on a turnover of 1,25 billion, achieved through the sale of 6,4 million products manufactured in factories in ten countries by 6.700 employees. A global reality which, to attack the household market, aims at advertising on TV in China and Romania, but is betting even more on the web, the weapon to penetrate Indian and Vietnamese households, as well as Russia and Western Europe.
In short, a rapidly growing group which does not suffer from the problems that the crisis creates for Fabriano's cousins of Indesit (which, moreover, owns about 14% of the 76,5% in the hands of the Merlonis) and which is now aiming, on the strength of a commercial penetration in more than 100 countries, to an even more prestigious goal: to ensure that in 2020 80% of business depends on high-efficiency solutions that make use of renewable energy.
In many ways it is an ideal freshman for the stock market, a spearhead among those companies which, according to the survey presented today at Bocconi, could guarantee a 1,5% increase in GDP once listed. But Paolo Merloni, who for years has endowed the company with clear governance with a CEO from outside the family and a management team, is in no hurry. “The important thing – he explains – is to guarantee our stakeholders compliance with best practices as if we were listed. We will do the step later. Maybe if the opportunity for a major acquisition arises." Minority shareholders, Banca Imi and Bnl (17,9% strong) are not in a hurry: customers of the caliber of Ariston Thermo are a rare commodity these days.
